21-1

Violation of any provision of this Regulation may be subject to supervisory action and sanctions as deemed appropriate by the Central Bank.

21-2

Without prejudice to the provisions of Central Bank Laws, supervisory action and sanctions by the Central Bank may include withdrawing, replacing or restricting the powers of the Insurance Broker’s Representatives, Senior Management or Staff, providing for the interim management of the Insurance Broker, or barring individuals from the UAE insurance sector.

21-3

Imposing any supervisory action and sanctions by the Central Bank shall not prejudice the civil and criminal liability of the Insurance Broker or the Insurance Broker’s Representatives or any of its Staff for the committed violations.